A zero fee Ebay-like marketplace for crypto assets

Rare Bits is the first marketplace dedicated to the buying and selling of crypto assets with zero fees. Crypto assets are non-fungible tokens on the blockchain that are provably scarce and unique. We believe that this asset class will pave the way for a new era of true digital ownership.

Reviews

+7 reviews

Would you recommend Rare Bits to a friend?

Discussion

Hi everyone!
We wanted to share some exciting news with the PH community. Today, we are happy to present to you Rare Bits (https://rarebits.io/) - a marketplace for the rapidly growing world of crypto assets.
We built Rare Bits to keep pace with all the innovative applications launching non-fungible tokens and to ultimately help users:
- Discover new crypto assets launching every day and to provide insights on market-level trends (like Product Hunt!).
- Manage your own crypto assets in one place with a visualized wallet experience (think Pinterest).
- Buy and sell crypto assets with auctions (think eBay).
One thing that sets us apart is we are completely fee-free. On other sites, as a seller you can pay upwards of 3.8% of proceeds in auction fees. We believe there are other ways to capture value and that, ultimately, most decentralized marketplaces and exchanges will trend towards zero fees.
We’re a venture-backed team of serial entrepreneurs based out of San Francisco. We’ve had previous successful exits to Google, Zynga and FanDuel. Most importantly, we are super excited about introducing the concept of true ownership of digital goods to the mainstream masses.
We would love to hear your feedback and for you to spread the word!

Timing here is great, as non-fungible tokens begin spreading and in some ways validating the chains they're built on as useful apps. The space is sorely lacking production-ready use cases, but Cryptokitties (sup @mackflavelle) really opened the landscape up and new entrants are popping up everywhere.
First question is how do you win? As you mentioned, there's a few competitors already... what do you think will drive success?
Also, is this a potential first point of entry for 'noobs', in that a multi-asset site might be more interesting or compelling to first-time users? Any onboarding/education planned to help someone who doesn't own any assets yet grok the space?

@dshan Thanks for the questions. As you alluded to, we see Rare Bits serving two core audiences right now.
The first are users that are already involved in the crypto community, are early adopters of new games/apps, and value having liquidity for their assets. This is where we feel offering zero fees will be very compelling.
The second are users who leverage our site for discovery and a lens into the crypto asset landscape. This is where the world of interesting stats/fun facts, curated recommendations, and certainly educational content will play a big role.
Lastly, we know the biggest driver for a great marketplace experience will be the unique inventory we integrate on our site and allow users to create auctions for. We are pushing hard to expand the number of gaming collections on our platform, and we certainly hope to expand into new verticals soon as well.

@danlee29@rrhoover Great question! We think, given the lack of barriers to entry, the obvious end state for decentralized marketplaces is going to be zero-fee.
Given that, we'd rather focus on helping game and DApp developers surface their content to new users and charge for market making services versus incrementally charge users for exchanging goods they already own. An example may be helping launch new apps or promoting new Gen0 items.